Varga: Government wants to make Hungary into regional logistics hub

Budapest, March 11 (MTI) – The government’s aim is to make Hungary into a regional logistics hub, capitalising on the country’s geographical location between east and west, the economy minister said, opening the Karzol Logistics Centre in Ecser, south-east of Budapest, on Friday.

Mihály Varga said there are serious opportunities for developments in the sector and exploiting them will be a key factor in improving the country’s competitiveness.

The standard of services in the sector and its availability is crucial to economic dynamism and expanding employment opportunities, he said, adding that in order to exploit opportunities in logistics, the government has adopted a package of related proposals.

UPDATE

Karzol’s 1.6 billion forint investment will expand the logistics sector which currently accounts for 6.3 percent of Hungary’s economic output. The sector has, however, a potential to develop to the level of accounting for 10-12 percent of GDP which is the average rate in industrialised economies.

Karzol’s investment will also create new jobs and train their workforce, said Varga.